Changzhou High-Tech Park in China targets large-scale projects that promote transformation across the production chain

To date, ten major projects have been approved and confirmed, with total investment of 12 billion yuan

CHANGZHOU, China, Feb. 25, 2017 /PRNewswire/ -- Changzhou High-Tech Park in Changzhou, China on the 21st of February approved and confirmed ten major projects for set up in the park, among them, the Automotive Electronics and Lighting R&D Centre and Headlights Production Centre Collaboration Facility, as well as a manufacturing facility for Del Huadong, with an investment in the aggregate amounting to 12 billion yuan.

The signing ceremony for several major projects at Changzhou High-Tech Park in 2017

The ten projects, five of which are domestic in origin and call for an investment of 10.5 billion yuan, and five of which are being invested in by foreign companies with a combined USD 225 million in funding, include the Automotive Electronics and Lighting R&D Centre and Headlights Production Centre Collaboration Facility, a manufacturing plant for Del Huadong, a production plant for Xinquan Autoparts, a smart production facility for Five Axis CNC, the ThyssenKrupp Presta Fawer Partnership Project, a production plant for S-Oil lubricating oils, a facility for the making of health teas, the Hoerbiger Capital Synchronisation Project, a project in three phases to set up a camshaft manufacturing plant for ThyssenKrupp and a facility to produce automotive cable for Jingxin Automobile Fittings.

Changzhou Municipal Party committee secretary Fei Gaoyun said, 2017 will be 'a great year of development projects for the city'. The municipal park committee and the municipal government look forward to the park leveraging the availability of favourable resources and a favourable environment and continuing to make the break-throughs that have assisted in transforming the city's economy. These efforts have served as a model for similar parks and industry clusters in terms of improvements across the industrial process, leading to enhanced efficiency. He also said that he expects the park will roll out quality improvements that serve to optimise the industrial structure, and, in doing so, become a model that can be followed by industries in other parts of the country, whether such changes are implemented at the city or provincial level, or even nationwide. Such improvements in industrial structure are likely to not only to drive capital investment, but also to refine the targeting of the investments, so that investment sources are well correlated to investment targets.

Member of the Changzhou Municipal Standing Committee and secretary of the Changzhou High-Tech Park Party Work Committee Zhou Bin explained, "In 2017, Changzhou High-Tech Park plans to focus on driving forward high-quality projects focused on the middle to high-end supply chain, and remaining at the vanguard of science and technology". The park's aim is to bring in two projects where the investment exceeds 10 billion yuan or USD 1 billion, three projects with investment above 5 billion yuan or USD 500 million, seven projects valued at over 3 billion yuan or USD 300 million, along with several smaller yet significant projects requiring at least one billion yuan or USD 100 million.